19 February 2010

EUR/USD + GBP/USD : Fed Discount Rate Hike

  • Surprise 25 bp Fed discount rate hike to 0.75% last night.
  • GTC sell stop-ins at 1.3525 and 1.5522 in EUR/USD and GBP/USD both triggered.
  • Last 1.3483 and 1.5454. Pleasant surprise as I did not expect this at all and market was a lot higher when I got up to check at 5 am.
  • Reminder of the importance of diligently keying in orders, no matter how far away they are (my system does not allow GTCs so I have to key them in every single day). 

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